B2Gold (NYSEAMERICAN:BTG) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.83 and traded as low as $4.51. B2Gold shares last traded at $4.60, with a volume of 32,188,218 shares trading hands.

Wall Street Analyst Weigh In

BTG has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of B2Gold from $5.00 to $6.25 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Jefferies Financial Group decreased their price target on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 10th. Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. Finally, Raymond James Financial lifted their price objective on B2Gold from $7.25 to $7.50 and gave the stock an “outperform” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, B2Gold currently has an average rating of “Buy” and a consensus price target of $6.81.

B2Gold Price Performance

The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.07 billion, a PE ratio of 8.36, a PEG ratio of 0.27 and a beta of 0.70. The firm’s 50-day moving average price is $5.29 and its two-hundred day moving average price is $4.83.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last posted its quarterly earnings data on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The firm had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same period in the prior year, the company posted $0.12 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts expect that B2Gold Corp will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of B2Gold

A number of large investors have recently made changes to their positions in BTG. Pale Fire Capital SE grew its stake in shares of B2Gold by 77.4% in the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock worth $315,923,000 after acquiring an additional 30,428,530 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of B2Gold by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company’s stock worth $151,630,000 after acquiring an additional 1,315,923 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in B2Gold in the 2nd quarter valued at about $107,805,000. Deutsche Bank AG purchased a new stake in B2Gold during the second quarter valued at about $63,960,000. Finally, Bank of America Corp DE grew its position in B2Gold by 9.9% during the first quarter. Bank of America Corp DE now owns 12,049,614 shares of the basic materials company’s stock valued at $54,585,000 after acquiring an additional 1,088,119 shares during the last quarter. 61.40% of the stock is currently owned by hedge funds and other institutional investors.

B2Gold Company Profile

B2Gold Corp. is a Canadian gold mining company engaged in the acquisition, development and operation of gold mines and exploration properties. The company’s activities include mineral exploration, mine development, ore processing and the production and sale of gold.

B2Gold’s principal producing assets have included the Fekola Complex in Mali and the Masbate Mine in the Philippines. The company has also operated the Otjikoto Mine in Namibia and has pursued additional growth through exploration and project development in several jurisdictions.

Founded in 2007 and headquartered in Vancouver, British Columbia, B2Gold expanded from an exploration-focused business into an international gold producer.